Maryland Cannabis Sales Boosted This Company's Q3 Revenue To 13% Sequential Surge
Portfolio Pulse from Patricio Liddle
Ascend Wellness Holdings Inc (OTC:AAWH) reported a 27% YoY and 14.9% QoQ increase in net revenue for Q3 2023, reaching $141.3 million. The company's net loss improved to $11.2 million from $16.9 million in Q3 2022. Retail revenue increased 22.3% YoY and 12.7% QoQ to $101.3 million. Adjusted EBITDA was positive at $29.5 million, a 38.5% sequential increase. The company's CEO attributed the growth to the successful launch of adult-use sales in Maryland.
November 07, 2023 | 4:04 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Ascend Wellness reported strong Q3 2023 results with significant increases in net and retail revenue. The company's successful launch of adult-use sales in Maryland contributed to the growth.
Ascend Wellness reported strong Q3 2023 results, with significant increases in net and retail revenue. The company's successful launch of adult-use sales in Maryland contributed to the growth, indicating effective business strategies and potential for future growth. This positive financial performance is likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100